Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On July 27, 2022, American Virtual Cloud Technologies, Inc. (the "Company")
received a notice in the form of a letter (the "Notice") from the listing
qualifications department staff of The Nasdaq Stock Market ("Nasdaq") notifying
the Company that for the last 30 consecutive business days, the Company's
Minimum Value of Listed Securities ("MVLS") was below the minimum of $35 million
required for continued listing on the Nasdaq Capital Market pursuant
to Nasdaq listing rule 5550(b)(2).
The Notice has no immediate effect on the listing of the Company's common stock,
and the Company's common stock continues to trade on the Nasdaq Capital Market
under the symbol "AVCT."
In accordance with Nasdaq listing rule 5810(c)(3)(C), the Company has 180
calendar days, or until January 23, 2023, to regain compliance. The Notice
states that to regain compliance, the Company's MVLS must close at $35 million
or more for a minimum of ten consecutive business days (or such longer period of
time as the Nasdaq staff may require in some circumstances, but generally not
more than 20 consecutive business days) during the compliance period ending
January 23, 2023.
If the Company does not regain compliance by January 23, 2023, Nasdaq staff will
provide written notice to the Company that its securities are subject to
delisting. At that time, the Company may appeal any such delisting determination
to a Nasdaq hearings panel.
The Company intends to actively monitor the Company's MVLS between now and
January 23, 2023 and may, if appropriate, evaluate available options to resolve
the deficiency and regain compliance with the MVLS rule. While the Company is
exercising diligent efforts to maintain the listing of its common stock
on Nasdaq, there can be no assurance that the Company will be able to regain or
maintain compliance with Nasdaq listing standards.
1© Edgar Online, source Glimpses
AMERICAN VIRTUAL CLOUD TECHNOLOGIES, INC. 
